HARRISBURG – New state investments approved today by the Pennsylvania Industrial Development Authority (PIDA) will enable three companies in Bucks, Erie, and Philadelphia counties to expand their operations and create and retain more than 200 jobs and inject millions of dollars into local economies.
“Partnering with local economic development groups to provide resources to businesses for job creation and economic growth is a priority of the Corbett administration,” Department of Community and Economic Development Secretary C. Alan Walker said. “The low-interest loans approved through PIDA will support more than 200 jobs. This figure does not include the construction jobs that will be contracted to complete building renovations.”
In 2011, PIDA has enabled 29 companies to create and retain over 2,130 jobs in 18 counties throughout the state.
PIDA provides capital for building acquisition, construction and renovation work, primarily for manufacturers, industrial developers, research and development firms, agricultural processors and employers looking to establish national or regional headquarters in Pennsylvania.
For more information about economic development initiatives in Pennsylvania, call 1-866-466-3972 or visit newpa.com.
Media contact: Theresa Elliott, 717-783-1132
Editor’s Note: The PIDA board approved the following projects today:
Bucks County
Global Chem Feed Solutions LLC will transfer 17 existing employees to a new site and create an additional six full-time jobs within the next three years in Warwick Township. At a total project cost of $1.4 million, the company will receive a $691,000, 15-year loan at 3 percent to consolidate operations into the new 15,845-square-foot facility. The Bucks County Economic Development Corporation is the sponsoring agency.
Erie County
Truckmen Services LLC will retain its existing 70 employees and create an additional 10 new full time positions within the next three years. At a total project cost of $1.2 million, EIDCO Inc. on behalf of Truckmen Services LLC, will receive a $583,500, 15-year loan at 3 percent. The warehouse and distribution company will acquire and renovate an existing 54,420-square-foot building in Millcreek Township. Truckmen Services will occupy 46,920-square-feet of the facility and Mercyhurst College will occupy 7,500-square-feet, using the space for college offices.
Philadelphia County
PEI/Genesis Inc. will receive a $1.4 million, 15-year loan at 3 percent, allowing the company to retain 98 existing employees and create five full-time positions within the next three years. The company, which manufactures and distributes commercial, industrial harsh environment and military electronic connectors, will construct a 25,263-square-foot addition to its existing building in Philadelphia at a total project cost of $3.4 million. PIDC Financing Corporation is the sponsoring agency.
